REG - Andrada Mining Ltd - Lithium And Tantalum Infill Drilling Update

Andrada MiningAnnouncement

02/02/2023 07:00

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RNS Number : 6584O  Andrada Mining Limited  02 February 2023

 

02 February 2023

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 (MAR) as in force in the United Kingdom pursuant to the
European Union (Withdrawal) Act 2018. Upon the publication of this
announcement via Regulatory Information Service (RIS), this inside information
is now considered to be in the public domain.

Andrada Mining Limited

("Andrada" or the "Company")

Lithium And Tantalum Infill Drill Programme Update

Andrada Mining Limited, formerly Afritin Mining Limited (AIM: ATM), an African
technology metals mining company with a portfolio of mining and exploration
assets in Namibia, announces further results from the lithium and tantalum
infill drilling programme at the Company's flagship operation, the Uis Mine
("Uis"). The programme aims to upgrade the existing lithium and tantalum 2019
Mineral Resource, stated in accordance with JORC (2012).

This update announces the results of 14 drill holes as illustrated on Figure
1. These results increase the total number of holes reported on to 49 of the
50-hole drilling programme, comprising 29 diamond and 21 reverse circulation
("RC") drill holes. The aim of the programme is to increase the confidence of
the existing lithium and tantalum Mineral Resource estimates in the V1/V2
pegmatite.

Highlights:

 

§ Pegmatite was intersected in all holes at the depths and apparent widths,
as predicted by the geological model;

§ Significant pegmatite intersections include:

o  94 m at 0.152% Sn, 66 ppm Ta and 1.18% Li(2)O for the drill hole V1V2051,
from 139 m to 233 m;

o  43 m at 0.147% Sn, 92 ppm Ta and 1.08% Li(2)O, from 57 m to 100 m; and 27
m at 0.25% Sn, 60 ppm Ta and 1.09% Li(2)O from 117 m to 144 m, for the drill
hole V1V2048;

o  63 m at 0.151% Sn, 79 ppm Ta and 1.43% Li(2)O for drill hole V1V2043 from
59 m to 122 m;

o  30 m at 0.141% Sn, 117 ppm Ta and 1.34% Li(2)O for drill hole V1V2035 from
82 m to 117 m.

o  35 m at 0.140% Sn, 108ppm Ta and 1.23% Li(2)O for drill hole V1V2038 from
71m to 106 m.

§ Notable intersections of lithium mineralisation within the pegmatite
intersections include:

o  63 m at 1.43% Li(2)O for drill hole V1V2043 from 59 m to 122 m;

o  30 m at 1.34% Li(2)O for drill hole V1V2035 from 82m to 112 m;

o  35 m at 1.23% Li(2)O for drill hole V1V2038 from 71m to 106 m.

Anthony Viljoen (CEO) commented:
"As we continue to report on the drilling programme results, I am pleased that they further highlight the mineralisation potential of the V1/V2 pegmatite ore body. The additional 14 holes being reported on in this announcement are located in the centre of the pegmatite and show that the potential lithium, tin, and tantalum mineralisation continuing at depth. The higher lithium grades of up to 1.43% lithium oxide are particularly exciting because they further demonstrate the unrealised potential of the V1/V2 orebody and support the early development of a lithium processing plant. We look forward to providing additional information on the lithium resource through an updated Mineral Resource Estimate in the near future."
 
Overview of the results

The pegmatite intersections reported in this update align with the current
geological model, confirming its spatial accuracy. The drill holes intersected
the pegmatite at shallow depths where the V1 and V2 bodies have bifurcated
into individual units, as well as at greater depths where the units coalesce
into a single pegmatite, drill holes V1V2058 and V1V2080 were stopped within
the pegmatite and do not represent the full intersection. The dip angle of the
pegmatites varies from 24 degrees to 48 degrees and the majority of reported
drill holes are orientated vertically such that the reported intersections
represent apparent thickness. Holes V1V12050, V1V12051 and V1V12034 are
inclined and intersected the pegmatite at approximately right angles.

 

Table 1: Exploration results of Diamond Drilling holes V1V2044, V1V2050,
V1V2051, V1V2052, V1V2054, V1V2037, V1V2048, V1V2058, V1V2080, V1V2043,
V1V2035, V1V2040, V1V2038, and V1V2034 indicating the pegmatite intersection
and pegmatite grades. Intersections are indicative of apparent thickness and
not true thickness. Drill hole V1V2058 and V1V2080 ended within the pegmatite.
Note that apparent thickness is greater than true thickness.

 Hole ID  Dip Angle (Degrees)  Pegmatite                       From/To (m) Including Waste  Interval (m)  Grade
          Sn                              Ta (ppm)                                          Li2O (%)

          (%)
 V1V2044  Vertical             V1/V2                           99-109                       10            0.059  143  0.55

                                          Whole intersection
          V1/V2                           112-192              82                                         0.159  64   0.53
          V1/V2                           199-202              3                                          0.148  36   0.44
 V1V2050  58°                  V2         Whole intersection   113-155                      42            0.153  83   0.96
          V1                              163-180              17                                         0.195  63   1.08
 V1V2051  78°                  V1/V2      Whole intersection   139-233                      94            0.152  66   1.18
 V1V2052  Vertical             V1         Whole intersection   39-63                        24            0.158  79   0.45
 V1V2054  Vertical             V1         Whole intersection   9-57                         48            0.143  104  0.40
 V1V2037  Vertical             V2         Whole intersection   39-64                        25            0.143  112  1.19
 V1V2048  Vertical             V2         Whole intersection   57-100                       43            0.147  92   1.08
          V1                              117-144              27                                         0.250  60   1.09
 V1V2058  Vertical             V2         Whole intersection   129-132                      3             0.090  218  0.41
          V2                              137-184              47                                         0.162  101  0.80
 V1V2080  Vertical             V1/V2      Whole intersection   121-158                      37            0.141  91   0.79
 V1V2043  Vertical             V1/V2      Whole intersection   43-46                        3             0.111  204  0.67
          V1/V2                           59-122               63                                         0.151  79   1.43
 V1V2035  Vertical             V2         Whole intersection   82-112                       30            0.141  117  1.34
 V1V2040  Vertical             V2                              55-61                        6             0.131  109  0.84

                                          Whole intersection
          V2                              64-74                10                                         0.147  91   1.17
          V1                              83-103               20                                         0.147  58   1.04
 V1V2038  Vertical             V2         Whole intersection   71-106                       35            0.140  108  1.23
 V1V2034  75°                  V2         Whole intersection   156-208                      52            0.117  71   0.75

 

Each drill hole was geologically logged before being sampled. The sample
analysis was undertaken by UIS Analytical Services, a certified independent
laboratory, using a peroxide fusion. ICP-OES analysis was utilised for major
and minor elements and ICP-MS utilised for the trace elements.

 

Figure 1: Map displaying the localities of the reported holes, the drill holes
of the previous (2019) exploration programme and the holes from the current
programme previously reported.

Line A-A' indicates the area represented by cross section (Fig.2).

Figure 2: Section line A-A' displaying a projection of the holes drilled
during the current programme for which the results are reported in this
release and previous communications for this programme.

 

 Competent Person statement

The technical data in this announcement has been reviewed by Michael Cronwright (M.Sc., FGSSA, Pr. Sci Nat. (Geological Sciences)) of CSA Global, who provides geological consulting services to Andrada. Mr Cronwright is the Principal Consultant - Battery Metals for CSA Global and has 22 years of exploration and mineral project development experience and is a Competent Person for the reporting of these exploration results. He has reviewed both the technical disclosures in this release as well as the quality assurance protocols and results for the assay campaign. Mr Cronwright consents to the release of the information contained in the announcement and is satisfied that the results of the QAQC on the assay results released to date are sufficient to support the planned estimation of Mineral Resources.
 
Glossary of abbreviations
 ICP-MS         Inductively Coupled Plasma-Mass Spectrometry
 ICP-OES        Inductively Coupled Plasma-Optical Emission Spectrometry
 Li             Symbol for Lithium
 Li → Li(2)O    Metal to metal-oxide conversion factor of 2.153
 Li(2)O         Lithium oxide
 JORC           The Australasian Code for Reporting of Exploration Results, Mineral Resources
                and Ore Reserves
 MRE            Mineral Resource Estimate
 PPM            Parts Per Million
 QA/QC          Quality Assurance / Quality Control
 RC             Reverse Circulation drilling
 Sn             Symbol for Tin
 Ta             Symbol for Tantalum
 V1/V2          Name of the targeted pegmatite unit, V1/V2 denotes where the V1 and V2
                pegmatites have merged at depth.

 
Glossary of technical terminology
 Apparent thickness  The relationship between apparent width and true thickness is based on the
                     formula by Addie (1968 Economic Geology, vol 63, pp 188-189).
 Dip angle           The angle of inclination measured downward from horizontal.
 Geological model    The interpretation of mineralisation and geology that controls
                     mineralisation.  This is usually generated in a three-dimensional computer
                     environment.
 Mineral resources   Mineral Resources are sub-divided, in order of increasing geological
                     confidence, into Inferred, Indicated and Measured categories. An Inferred
                     Mineral Resource has a lower level of confidence than that applied to an
                     Indicated Mineral Resource. An Indicated Mineral Resource has a higher level
                     of confidence than an Inferred Mineral Resource but has a lower level of
                     confidence than a Measured Mineral Resource.
 Pegmatite           An igneous rock typically of granitic composition, which is distinguished from
                     other igneous rocks by the extremely coarse and systematically variable size
                     of its crystals, or by an abundance of crystals with skeletal, graphic, or
                     other strongly directional growth habits, or by a prominent spatial zonation
                     of mineral assemblages, including monomineralic zones.
 Xenolith            A foreign rock fragment (e.g., schist) within an intrusive body (e.g.
                     pegmatite) that is unrelated to the igneous body.

 

 

 Andrada Mining Limited                       +27 (11) 268 6555
 Anthony Viljoen, CEO

 Sakhile Ndlovu, Head of Investor Relations
 Nominated Adviser                            +44 (0) 207 220 1666
 WH Ireland Limited

 Katy Mitchell
 Corporate Advisor and Joint Broker
 H&P Advisory Limited                         +44 (0) 20 7907 8500

 Andrew Chubb

 Jay Ashfield

 Nilesh Patel

 Stifel Nicolaus Europe Limited               +44 (0) 20 7710 7600
 Ashton Clanfield

 Callum Stewart

 Varun Talwar
 Tavistock Financial PR (United Kingdom)      +44 (0) 207 920 3150
 Emily Moss

 Catherine Drummond

 Adam Baynes

__________________________________________________________________________________________

About Andrada Mining Limited

Andrada Mining Limited, formerly Afritin Mining Limited, is a London-listed
technology metals mining company with a vision to create a portfolio of
globally significant, conflict-free, production and exploration assets. The
Company's flagship asset is the Uis Mine in Namibia, formerly the world's
largest hard-rock open cast tin mine.

 

Lithium laboratory test work completed during the 2022 calendar year indicated
a high-grade, ultra-low iron lithium petalite concentrate. The test work to
convert lithium petalite concentrate to battery-grade lithium hydroxide was
initiated with Nagrom, a leading Australian processing company, and commercial
engagements with lithium petalite concentrate off - takers are on-going.

 

An exploration drilling programme is currently underway with the aim of
expanding the tin resource over the fourteen additional, historically mined
pegmatites, all of which occur within a 5 km radius of the current processing
plant. The Company has set a mineral resource target of 200 Mt to be
delineated within the next 5 years. The substantial mineral resource potential
allows the Company to consider economies of scale.

 

Andrada is managed by a board of directors with extensive industry knowledge
and management team with deep commercial and technical skills. Furthermore,
the Company is committed to the sustainable development of its operations and
the growth of its business. This is demonstrated by how the leadership team
places significant emphasis on creating value for the wider community,
investors, and other key stakeholders. Andrada has established an
environmental, social and governance system which has been implemented at all
levels of the Company and aligns with international standards.

-END-

 

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